No one knows when and how the pandemic will end. In the post-COVID-19 world, however, two things are certain: accelerated digitalization and a more confident China.
The 2008-09 global financial crisis was the first significant shift in power from the United States to China. During the current COVID-19 pandemic from 2020, China has been one of the only major economies to have posted growth and, as a result, Beijing is becoming increasingly confident that it is on an equal footing with the West.
On March 5, at the National People’s Congress held in Beijing, Chinese Premier Li Keqiang announced major goals for the 14th Five-Year Plan. The centerpiece of this new plan was the development of a digital economy. The plan aims to accelerate the development of digitization and to build a “digital China.”